Oil Investors concerned about lack of Puntland’s inclusion in the oil agreements

[Farm]

They even know the FGS lied about its agreements.

The component states of Somalia are not on board, however, despite claims by Ahmed that an understanding had been reached with Somaliland and that the autonomous province of Puntland must also agree to FGS plans under the so-called Baidoa Accord.

Neither the Puntland Parliament nor that of the breakaway Republic of Somaliland have ratified the Baidoa Accord, as required by law, and fear allowing the unelected FGS regime will use oil revenues and fees to purchase arms, rekindling the decades-old inter-clan conflict that devastated the Somali polity in the 1990

Ali Abdullahi, chief executive of Amsas Consulting, which holds acreage on the central Shebelle coast, said investors will not come while the FGS Parliament remains a selected, not an elected body.

Puntland's share is wholly inadequate under the proposed formula, according to Ali Abdullahi, chief executive of Amsas Consulting, which holds acreage in Afgoye on the central Somalia coast.

Moreover, there is no agreement on Baidoa or on the proposed petroleum legislation between Puntland and the FGS, Minister for Energy, Mining and Water Resources, Ahmed Tarrin, told Upstream.

There is also fear that the FGS will attempt to licence onshore acreage as soon as they get the offshore exercise under way, triggering clan conflict

https://www.upstreamonline.com/exploration/somalia-defers-planned-offshore-round/2-1-702216

 

[Louis Vuitton Don]

Good shxt. If it was me, I would try to get the oil companies to lobby Congress to get ittiraf. I would give 80% of profits to them for 30 years.